The Supreme Court on Monday ruled that a federal ban on state-sanctioned sports betting is unconstitutional, a decision that could have major implications in the sports world.

The high court ruled by a 6-3 margin that the Professional and Amateur Sports Protection Act, or PASPA, is unconstitutional. New Jersey had challenged the law in a bid to allow sports gambling by casinos and racetracks.

The decision not only opens the door for legalized gambling in New Jersey, but nationwide. Currently, gambling is only allowed in Nevada and a handful of other states where it has been grandfathered in.

Daniel Wallach, a gaming and sports attorney, tweeted that the "Floodgates now officially open for other states to allow sports betting."

The court ruled that PASPA violates the 10th Amendment anti-commandeering principle, preventing states from determining their own laws. The ruling noted, "It is as if federal officers were installed in state legislative chambers and were armed with the authority to stop legislators from voting on any offending proposals."

The fallout from this decision will be swift, and will dramatically change the sports world. The New York Post reports gambling could be available in New Jersey within two weeks, and other states are expected to soon follow.

A 2017 report by Eilers & Krejcik Gaming estimated that 14 states would offer sports betting within two years: Colorado; Connecticut; Delaware; Indiana; Massachusetts; Michigan; Mississippi; Montana; New Jersey; Ohio; Nevada; Pennsylvania; Virginia; and West Virginia. Another 18 states are expected to offer it within five years, and another dozen could eventually pass legislation to allow gambling.

The firm estimates legalized gambling could eventually be a $16 billion annual industry in the U.S.

All North American team sports have been eyeing this decision, formulating a plan of action. NFL Commissioner Roger Goodell noted in March that, "we've been focused on this for several years."

The NBA released a statement in January that it would request betting operators pay the league 1 percent of the total amount bet on its games, "to compensate leagues for the risk and expense created by betting and the commercial value our product creates for betting operators …" MLB is seeking a similar fee, and both MLB and NBA officials have been lobbying state legislators on gambling bills.

Sports teams can also expect to earn sponsorship money from sportsbooks looking for promotions in stadiums.